VANCOUVER, Aug. 17-- U.S. President Donald Trump's complaints over America's trade deficits with its North American partners shows a failure to understand or accept macroeconomic fundamentals, say trade experts from the University of British Columbia (UBC) Thursday. Throughout the presidential campaign and in the first seven months of his presidency, Trump has blasted the North American Free Trade Agreement (NAFTA) as the worst trade deal ever signed. His foremost pretext has been that the U.S. is suffering from a major trade deficit with Mexico, and to a lesser extent, a deficit with Canada as well. Last year, the U.S. exported 229 billion U.S. dollars in goods to Mexico and imported 294 billion U.S. dollars in goods from Mexico, a trade deficit of 64 billion U.S.dollars, according to U.S. census figures. |